Interim Allocation Date definition
Examples of Interim Allocation Date in a sentence
On or prior to 4:30 p.m. (Eastern time) on the Business Day prior to each Interim Allocation Date, the Master Issuer (or the Manager on its behalf) shall instruct the Trustee in writing to transfer any Investment Income on deposit in the Indenture Trust Accounts (other than the Collection Account) to the Collection Account for application as Collections on that Interim Allocation Date.
Any Real Estate Disposition Proceeds Prepayment Amount allocated to a Principal Payments Account on any Interim Allocation Date shall be applied as prepayments on the following Payment Date in accordance with Section 5.14(f), Section 5.14(i) and Section 5.14(l).
Any instructions or directions to be provided by the Master Issuer referenced in this Article V may be given by the Manager on behalf of the Master Issuer and (a) with respect to a Quarterly Calculation Date or Quarterly Payment Date, respectively, shall be contained in the applicable Quarterly Noteholders’ Report for such Quarterly Payment Date and (b) with respect to an Interim Allocation Date shall be contained in the Interim Manager’s Certificate for such Interim Allocation Date.
In the event that such Securitization Entity has elected to not reinvest such Insurance/Condemnation Proceeds, such Insurance/Condemnation Proceeds shall instead be deposited to the Collection Account promptly following such decision to pay principal of each Series of Notes Outstanding in accordance with priority (i) of the Priority of Payments on the following Interim Allocation Date.
Manager Advances will accrue interest at the Advance Interest Rate and shall be reimbursable on each Interim Allocation Date in accordance with the Priority of Payments.
In the event that such Securitization Entity has elected not to reinvest such Asset Disposition Proceeds, such Asset Disposition Proceeds shall be deposited to the Collection Account promptly following such decision and applied in accordance with priority (i) of the Priority of Payments on the following Interim Allocation Date.
As compensation for the performance of its obligations under this Agreement, the Manager shall be entitled to receive (i) the Management Fee, which shall be an arm’s length fee, and (ii) if applicable, the Supplemental Management Fee, in each case, on each Interim Allocation Date out of amounts available therefor under the Indenture on such Interim Allocation Date in accordance with the Priority of Payments.
Notwithstanding anything to the contrary contained herein or in any other Related Document, the delivery by the Servicer of an Omitted Payable Sums Certification to the Trustee will be deemed to satisfy any requirements set forth in the Indenture for the Master Issuer (or the Manager on its behalf) to provide written direction to the Trustee with respect to the movement of funds on the related Interim Allocation Date to the extent of the information contained therein.
Subject to any restoration allocation required under Section 5.04 and to Section 8.03(B), the Plan shall allocate and credit each Employer contribution, and Participant forfeitures, if any, to the Account on the last day of the Plan Year and each Interim Allocation Date of each Participant who satisfies the conditions of Section 3.06.
On each Interim Allocation Date, the Master Issuer (or the Manager on its behalf) shall instruct the Trustee in writing to allocate from the Collection Account all amounts relating to the Series 2018-1 Notes pursuant to, and to the extent that funds are available therefor in accordance with the provisions of, the Priority of Payments.